Cabin Dr 1

[Casey Coffey]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $299,000

Purchased as primary residence back in 2018 with no money in the deal. Mortgage is $1008 and currently renting for $2500 per month.

What made you interested in investing in this type of deal?

This was my first primary residence. At the time, it was cheaper to purchase than it was to rent.

How did you find this deal and how did you negotiate it?

Found on MLS through an agent.

How did you finance this deal?

Was gifted down payment and received conventional loan.

How did you add value to the deal?

Redid landscaping, painted interior, added a functional closet in hallway.

What was the outcome?

Lived in this property for 3 years before purchasing a new primary residence in 2021. With a low mortgage of $1008, i was able to rent this property for $2400 effectively cash flowing about $1200 per month. I was able to use this cash flow to offset the mortgage payment on my new home.